17 December, 2008

Some opinions are so ingrained in a subculture that that subculture is not even aware that they are not facts, but opinions. There are few if any more certain indicators of being out of touch with the intellectual climate than to not be aware that some visible and accomplished members of the population not only do not share this assumption of facthood, but are actually demonstrating superior situational awareness in contradicting it than are proponents of said opinions in espousing it.

That is the best I can do right now to summarize my thoughts a few hours after watching an astonishing episode of ABC's World News Tonight (12/16/08). The lead report, of course, begins with coverage of the Federal Reserve's historic interest rate action. The opinion-as-fact comes when the report segues to consumer credit:

"But, the economy won't improve until interest rates fall for consumers as well."

But, this is an opinion, not an established fact. Evidence here, here, here and heck, even here.

03 December, 2008

I'm fascinated by Peter Schiff lately. Jim Rogers too. Here is a great compilation of Peter on various business news shows. I wonder if those other guests would still yuk it up if they watched this. I would hope not, but they'd probably have some cya excuse for their uselessness.

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Power

"The disposition of mankind, whether as rulers or as fellow-citizens, to impose their own opinions and inclinations as a rule of conduct on others, is so energetically supported by some of the best and by some of the worst feelings incident to human nature, that it is hardly ever kept under restraint by anything but want of power; and as the power is not declining, but growing, unless a strong barrier of moral conviction can be raised against the mischief, we must expect, in the present circumstances of the world, to see it increase."John Stuart Mill, On Liberty, 1859